IRA / SEP / SIMPLE Key Priorities
Everyone deserves to feel financially secure. We provide retirement savings solutions through a dynamic network of leading third party administrators (TPAs) from across the nation as a dedicated organization backed by the strength and security of Ascensus.
Federal Prime Interest Rate Increased to 7.75 Percent
Effective February 1, 2022, the federal prime interest rate increased from 7.50 percent to 7.75 percent.
COVID-19 National Emergency Expected to End May 11
Earlier this week, President Biden announced his intent to extend the national emergency concerning the COVID-19 pandemic through May 11, 2023.
Form 5500 Guidance Under SECURE Act of 2019 Has Left the OMB
A final rule from the DOL titled “Implement SECURE Act and Related Revisions to Employee Benefit Plan Annual Reporting on the Form 5500” has left the OMB.
SECURE 2.0 Employer Tax Credits
This credit applies to qualified plans (defined contribution and defined benefit plans under IRC Sec. 401(a) and 403(a)), and SEP and SIMPLE plans.
Deadline Relief for California Severe Storms
The IRS has announced the postponement of certain tax-related deadlines for victims of severe storms, flooding and landslides in California.
Updated Yield Curves and Segment Rates for DB Plans
The IRS has issued Notice 2023-12, which contains updated guidance on factors used in certain defined benefit (DB) pension plan minimum funding and present value calculations.
IRS Announces Applicable Federal Rates for February 2023
The IRS has issued Revenue Ruling 2023-03, which contains the applicable federal rates (AFR) for February 2023.
2023 Inflation Adjustments for Civil Penalties
The PBGC has published in the Federal Register inflation-adjusted penalty amounts for failure to provide certain notices.
Distributions May Be Permitted for Alabama Severe Storms
FEMA has issued a disaster declaration for severe storms, straight-line winds, and tornadoes in Alabama, for January 12, 2023.
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